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Showing posts from September, 2018

Farmers still have time to sign up for corn settlement payments

By David Bau, Extension Educator

A year with slumping crop prices seems like an odd time to leave money on the table. So far, that’s what’s happening with the $1.51 billion settlement of a nationwide class action lawsuit against Syngenta. Most U.S. corn farmers are eligible, and the deadline is October 12.

Last spring, 643,000 notices went out to farmers who can submit claims. Most haven’t.
Farmers who grew corn sold between September 15, 2013, and April 10, 2018, can submit claims by going to CornSeedSettlement.com.

Sign up only takes a matter of minutes and hopefully there will be a rush to submit claims before harvest. The Settlement may affect your rights if you are: (1) a Corn Producer; (2) a Grain Handling Facility; (3) an Ethanol Production Facility or (4) Landlords sharing in the risk of producing corn. To stay in the Settlement and get paid, submit an eligible Claim by October 12, 2018.

Each farm’s claim is based on the annual acreage report submitted to the Farm Service Agen…

New Farm Program Available to Counter Tariff Effects

by David Bau, Extension Educator

U.S. Secretary of Agriculture Sonny Perdue announced details of actions the U.S. Department of Agriculture (USDA) will take to assist farmers in response to trade damage from unjustified retaliation by foreign nations.  The USDA will authorize up to $12 billion in programs, consistent with our World Trade Organization obligations.  These programs will assist agricultural producers to meet the costs of disrupted markets. The USDA aid package will be implemented in 2018 and will include three components:
USDA’s Farm Service Agency (FSA) will administer the Market Facilitation Program (MFP) to provide direct payments to farmers for corn, cotton, dairy, hog, sorghum, soybean, and wheat producers starting September 4, 2018. Total allocation for phase 1 of the MFP program is approximately $4.7 billion, plus a similar amount for phase 2, if all payments are allocated.USDA’s Agricultural Marketing Service (AMS) will administer a Food Purchase and Distribution P…

What Direction will 2019 Farmlands Rents Go? Stay the Same? Up? or Down?

by David Bau, Extension Educator

Each year I put together tables listing actual farmland rental rates by county from Adult Farm Management Records.  Unfortunately farmers and landlords are starting to negotiate 2019 farmland rental rates and the last actual numbers available are for 2017 so I am forced to estimate figures for 2018 and 2019.  When I did this last year I used an estimate of a 2.5% decline and the actual figure came in at 3.9% decline statewide.  For 2017 I heard many times that rents were down, although some rents went up and some remained the same, in table 1 below I estimated a 4% decline in 2018 from 2017.

But what direction should 2019 farmland rental rates go?  How do I determine an estimate for 2018 farmland rental rates?

Should they stay the same? 
Landlord property taxes continue to increase. While the state legislature help with some of the school referendum costs, they still increase taxes.  If rents stay the same, a landlord’s income will go down if taxes incr…